CFO of Boston Provident Charged with Securities Fraud

November 10th, 2009
| More
The SEC charged Ezra Levy, former CFO of hedge fund manager Boston Provident LP, with securities fraud. In June 2009, Mr. Levy allegedly made unauthorized trades from his own personal account to Boston Provident’s accounts at an above-market price. Levy’s trading generated an illegal profit totaling over $500 Million. Levy had access to the firm’s electronic trade system but did not have permission to make trading decisions. On Tuesday, Mr. Andrew Calamari, Associate Director of the SEC's New York Regional Office said, "Levy executed a fraudulent scheme to benefit himself at the expense of Boston Provident and its clients." The SEC is now pursuing legal action to freeze Mr. Levy’s assets.
See Press Release
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News


More Recent Headlines

Former Star Manager of Goldman’s Global Alpha Fund to Launch New Hedge Fund

John Henry’s Hedge Fund lays off almost one third of its team

Flintlock Commodity Opportunity Partners to be launched by Ex-Tudor PM Steve Matthews

Value Line’s $24 million Fraud Scheme ends after almost 20 years

Nathan Dean joins Quoin Partners as Senior Partner

Gabelli’s GAMCO pushes shareholder activist agendas at Three Companies

Equity Markets and Hedge Funds have 1st down Month in 7 Months

Did the Stock Market Collapse Help Some Hedge Funds Mask More Serious Problems?

RWC Long-Short Strategy Gets Backing from SAC Capital

AIG Investments shuts down Cleantech and Sustainability Investment Group